PRSC | Leading Domestic Credit Rating Agency in the Philippines
5th Floor, ALGO Center Building 162 L.P. Leviste St., Salcedo Village Makati City, Metro Manila 1227 Philippines
ABOUT US
The Pioneer and Leading Domestic
Credit Rating Agency in the Philippines
Philippine Rating Services Corporation, also known as PhilRatings, is the pioneer domestic credit rating agency in the Philippines.
It provides ratings for bonds (including Green Bonds), commercial papers, bank loans, banks and other financial institutions (e.g. insurance companies, guarantee companies, among others), corporations (including those issuing Notes and Preferred Shares), local government units (LGUs), asset-backed securities, project finance transactions, Real Estate Investment Trusts (REITs) and Small and Medium Enterprises (SMEs). PhilRatings has been assigning ratings since 1985, formerly operating as a department of Credit Information Bureau, Inc. (CIBI). CIBI, the original company, was established in April 1982. The credit rating department and the credit rating function were eventually spun off to form a separate and independent entity, PhilRatings, and was registered as a provider of credit rating services on March 22, 1999.
The Company is owned by two foundations – Go Kim Pah Foundation (70%) and the Capital Markets Development Foundation, Inc. (30%). It is a founding member of the Association of Credit Rating Agencies in Asia (ACRAA), the membership of which is currently composed of credit rating agencies within the Asian region.
PhilRatings plays an active and meaningful role in the development of the Philippine capital markets as it conscientiously participates in the implementation of a national credit rating system. It is the first and the only domestic Credit Rating Agency (CRA) recognized by the Bangko Sentral ng Pilipinas (BSP) for bank supervisory purposes. The eligibility criteria for recognition include, among others: a minimum 5-year track record in issuing reliable and credible ratings, a pool of experienced analysts, a competent and experienced Board of Directors, an established rating methodology, and an established record of independence, objectivity, and transparency.
Given its compliance with regulatory requirements under the Securities Regulation Code (SRC Rule 12.1), PhilRatings is accredited as a credit rating agency by the Securities and Exchange Commission (SEC). Its assigned credit ratings are also used by the Philippine Dealing and Exchange Corporation (PDEx) for securities that are listed with PDEx. The Insurance Commission also utilizes assigned credit ratings if companies issuing securities would like to tap insurance companies as investors in or holders of these securities. Its ratings have also been accepted by regulators/parties in other countries (e.g., Indonesia and Vietnam) in Asia in relation to insurance companies and insurance company-related transactions.
Our Mission
To provide independent, objective, and timely credit opinions based on competent, expert, and insightful analyses.
To promote and practice the highest standards of ethical conduct in the generation, dissemination, and use of credit information and opinion.
To advance the responsible use of credit among credit users and credit providers.
To contribute to capital market development through credible credit opinions and collaborative efforts with other capital market stakeholders.
Our Vision
To be the recognized authority for credit ratings and other credit opinions, for informed decision-making.
Core Values
Integrity
Our every action is characterized by honesty, fairness, impartiality, and accountability. We hold ourselves to a high level of moral standards, adhering to a Code of Conduct and Ethics to guide our credit rating activities.
Competence
We do our work with excellence and efficiency. Our Team has the skills, knowledge, qualifications, and experience to handle each rating assignment in a professional manner.
Credibility
We consistently strive to be worthy of our client’s trust and confidence. We consistently strive to merit the trust and confidence of individuals and institutions using our credit ratings and reports. Our ratings are reliable and our reports provide significant insights to guide users in their decision-making process.
Collaboration
We value teamwork even as we carry out our individual assignments and tasks. We come together with our colleagues, our clients, and other stakeholders to achieve our collective goals and objectives.
Service Orientation
We are dedicated to meeting the needs and requirements of our clients, investors, and all parties that we deal with as part of our rating process and business activities. We are committed to deliver the needed quality output on time. We approach each task with flexibility, agility, and proactivity.
People-Centric
We believe that people are our most important resource and thus look out for the welfare, well-being, and continuous growth of our employees. We also remember that behind each company we work with or parties we collaborate with are persons worthy of being accorded courtesy and respect. We do our work conscientiously to assist individuals and companies in their financing and investing activities. We continuously aim to be authentic, humble, and empathetic human beings who care for and act in the best interest of our fellowmen.